An Algebraic Arithmetic; Being An Exposition of the Theory And Practice of Advanced Arithmetic, Based On the Algebraic Equation

Cover An Algebraic Arithmetic; Being An Exposition of the Theory And Practice of Advanced Arithmetic, Based On the Algebraic Equation
An Algebraic Arithmetic; Being An Exposition of the Theory And Practice of Advanced Arithmetic, Based On the Algebraic Equation
Silas Ellsworth Coleman
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; 2 yr. 4 mo.
7. $40, at 6%, for 2 mo.; 6 mo.; 10 mo.
8. $5atl0%,for2yr.; 3^yr.
9. $ 10 at 6%, for 1 mo. ; 9 mo.
10. $ 300 for 6 mo., at 6% ; at 8%.
11. $ 60 for 8 mo., at 6% ; at 12%.
12. $ 200 for 3 mo., at 1% a month.
18. $ 250 for 2^ yr., at 4% ; at 10%.
14. $ 6 for 7 mo., at 1% a month.
44. To compute interest at 6 per cent. Beckoning a month as ^ of a year and a day as ^ of a month, the interest, at 6%, for 1 yr. = .06 of the principal ; for 2 mo. = .01 of the principal ; for 1 mo. = .005
... of the principal ; for 6 da. = .001 of the principal ; . for 1 da. = .000^ of the principal.
Digitized by Google SIMPLE INTEREST 69 Hence to find the decimal fraction of the principal that the interest, at 6%, for any given time is, take 6 times the number of years and \ the number of months as hundredths^ and \ the number of days a>s thousandths.
Ex. 1. Find the interest of 1^375.50 for 3 yr. 5 mo.
21 da., at 6%.
' The interest for 3 yr. = 3 X .06 = .18 of the principal; 5 mo. = 5 X .005 = .025 of the principal; 21 da.


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